Member Info for mulledwine

Shore Capital reiterated its "buy" rating for N Brown (BWNG), the internet and catalogue home shopping company. Following its in-house meeting with management, the broker said the group is well managed by a team that is pragmatic enough to cut investment on projects that prove to be difficult. That said, although the outlook remains challenging, Shore is confident that the firm will deliver on expectations. The shares decreased 6.3p to 269p.

Singer Capital Markets maintained its "strong buy" rating and 540p target price for IG Group (IGG). Commenting on the pre-close statement announced yesterday, the broker said, excluding the impact of the closure of the sports division, the update was exactly in-line with its expectations. That said, Singer added that it continued to view the sports spreadbetting group as a "long term core holding in the sector" and, with the shares trading on an expected calendar year 2012 price-to-earnings ratio of 11.8 times and yielding 4.3%, believes the stock offers an attractive entry point. The shares edged down 0.2p to 439.2p.

Orosur raises $13.5m for new mine Date: Friday 10 Jun 2011 LONDON (ShareCast) - South American gold miner Orosur has raised $13.5m (£8.3m) through a placing of shares to fund its acquisition of the Talca mine in Chile and other potential purchases. Just over 12.5m shares were placed at 66p a share, a 9% discount to the company’s closing price yesterday. Orosur said yesterday that it was seeking to raise up to $15m. “We're delighted that we have raised the necessary funds for the acquisition and exploration programme at Talca, a project which we feel has great potential,” said chief executive David Fowler. “I would also like to take this opportunity to thank our shareholders for their continued support and look forward to updating them on our progress.”

http://www.stockopedia.co.uk/content/orosur-mining-completes-fundraising-ahead-of-talca-acquisition-57209/

http://www.stockopedia.co.uk/content/packaging-group-api-upbeat-on-figures-despite-higher-raw-material-costs-57176/

USD 1 billion advance payment to Belaruskali OJSC Uralkali ("Uralkali") notes recent press reports about a possible transaction with OJSC Belaruskali ("Belaruskali") contemplating advance payment for future sales of potash by Belaruskali. Uralkali Group confirms that it is considering entering into a transaction with Belaruskali, pursuant to which Uralkali Group may advance up to USD 1 billion to Belaruskali to secure purchase of certain volume of potash. Belaruskali is a joint venture partner with Uralkali in connection with BPC, which serves as a joint sales and distribution platform for the potash products of both companies. The Uralkali Group has not yet entered into any binding agreement, and no assurance can be made that the transaction will be completed on these terms or at all.

http://www.investegate.co.uk/Article.aspx?id=201106101541412674I

http://www.stockopedia.co.uk/content/vallares-plc-nat-rothschild-teams-up-with-tony-hayward-57183/?utm_source=sendgrid.com&utm_medium=email&utm_campaign=Site%20Features

Post Period Highlights · On 1 June 2011, we announced that the New York Supreme Court, Appellate Division of New York County issued a ruling on 26 May 2011 entering judgment in favour of TyraTech and against Molecular Securities, Inc. ("Molecular") and dismissing Molecular's complaint in its entirety. This ruling may be appealed by Molecular · Subsequent to 31 December 2010, milestone payments were received from Terminix for the successful development of three new products

TyraTech Inc. (AIM: TYR), a natural life sciences company that harnesses the power of nature to improve human and animal health using a proprietary, novel technology that is both effective against insects and parasites and safe for people and pets, today announces its unaudited preliminary results for the year ended 31 December 2010. Operational Highlights · Successful extension to our partnership with Terminix, the largest professional pest control company in North America, through a new product development and supply agreement · Strengthened management team through the addition of key leaders with significant experience in our key markets Financial Highlights · Revenue from continuing operations decreased for the year to US$4.6 million (2009: US$6.3 million). · Deferred revenue at year end increased by $3.5 million from 2009 and will be recognized in future periods · Expenses from continuing operations for the year were reduced by 43% to US$7.4 million (2009: US$13.0 million) · Net loss before and after tax for the period attributable to TyraTech reduced significantly to US$6.1 million, (2009: US$13.9 million) · Successfully raised US$4.8 million in working capital through additional share issues · Cash and cash equivalents were US$3.3 million (2009: US$1.3 million)

http://www.investegate.co.uk/Article.aspx?id=201106100700082068I

Corporate crisis looming for ENRC, shares down Date: Friday 10 Jun 2011 LONDON (ShareCast) - One of the biggest firms listed in the UK is struggling to dispel an aura of corporate crisis this afternoon. Eurasian Natural Resources Corporation, better known as ENRC, is set to lose a third independent board director according to reports in the Financial Times. The loss of Mehmet Dalman would follow the removal from the board of fellow independents Ken Olisa and Sir Richard Sykes. The row centres on who exactly is controlling the natural resources company with a market value of nearly £10bn. Suggestions from the ousted directors indicate they believe the founders of the firm, including the Kazakh-Israeli oligarch, Alexander Mashkevitch are exerting too much influence, despite no longer owning a controlling interest. The reputational damage is being matched by a loss of value, with shares down 33.5p to 768.5 (4.18%).

RBS recommends buy on WS Atkins, target price raised from 785p to 880p.

BarCap underweight on Home Retail Group, target price cut from 165p to 145p.

Adecco bid talk boosts Hays Date: Friday 10 Jun 2011 LONDON (ShareCast) - Shares in recruitment group Hays jumped amid rumours that the recruitment firm is in the sights of larger rival Adecco. The Daily Mail’s Market Report said that traders were speculating that Switzerland’s Adecco could be lining up a £2.2bn or 160p-a-share bid. Responding to the report, a spokesman for Adecco was quoted as saying: “'We cannot comment on speculation. “What we can say is that bolt-on acquisitions are possible.” Adecco is the world’s biggest staffing agency. The UK now accounts for less than half of Hays’s revenues. --- RG

You would imagine that ultimately some homes will go under the hammer

Southern Cross Healthcare Group PLC ('Southern Cross', 'the Company' or 'the Group') Clarification re Media Comment Southern Cross, the UK's largest care home operator, wishes to make clear that there have been no decisions taken regarding the closure of any of its care homes. The Company remains in discussions with its landlords and banks to ensure the continuity of care for all residents. As both the Company and the Government have stated this week, no residents will find themselves homeless or without care; everyone involved in the restructuring process is, and remains, committed to the continuity of quality care for all of our 31,000 residents. Christopher Fisher, Chairman of Southern Cross, said: "No decision has been taken to close any of our homes. We recognise that the current situation and continued media speculation will have caused concern to residents in Southern Cross care homes, and their relatives, and we apologise for this. Our primary concern in this matter remains the welfare of the residents living in our homes. The financial restructuring will not affect the provision of quality care in any of our homes."

Yesterday’s update from the maker of Imperial Leather soap and Carex handwash was reassuring in that, overall, PZ Cussons said performance for the year to the end of May had been in line with management’s hopes. PZ Cussons is better placed than other consumer-related companies in that it has the benefit of good international operations. That said, it trades on more than 20 times forward earnings. We would not buy, but nor are we inclined to sell. The Independent recommends a hold.

Apologies - this is the rest of the article for previous post... Studies suggest that there are many trillion cubic feet of gas in the Baltic licences, but … it is normal to state that such oil and gas explorers are highly risky and not for widows and orphans. This is true in spades for 3Legs. As I said, interesting but risky, the Times suggests.

So far, so good for 3Legs Resources, whose shares, priced at 190p on AIM yesterday, immediately went to GBP2 on the grey market. The float price valued the company at GBP161 million. It owns six licences to recover shale gas off Poland in the Baltic, for which two wells have been drilled and a third is under way. There are others as yet undeveloped in Germany and under application in France.